A publicly traded investment firm that regulates a fixed number of shares at a time that are listed on the stock market. Close End Funds refer to only a set number of shares that are issued. When a company needs to raise a certain amount of money, it may issue a certain number of shares. Once the initial money is raised, there are no more shares issued and a manager is appointed to manage the shares and investments according to the company’s requirements. These Closed End Shares are restricted shares and no new shares are created afterwards. Investors who wish to buy at a later time are only able to buy funds on a secondary level; in other words from someone else who is selling their shares. Many of these Closed End Funds pay dividends which are paid out monthly or quarterly. This makes these funds interesting for investors who want to make a more frequent income. The downside to this type of fund is that the price can spike or dive rapidly and without warning. The share price of this type of fund fluctuates from one moment to the next due to leverage. The objective is to increase the return or income, however, this can also increase the risk of a sudden decrease in value.